Recession is over, it's time to grow up fast because consumer have lost money and still are worried about their job. Yes SA should handle economic upturn correctly for its economic growth. SA should keep its payroll light. We can also consider the money which we spend on people working on payroll. Some of the companies are looking at server virtualization. The company should keep the alternatives for emergency.
Don't delay! devaluate now! the adjustment by deflation will lead to even more uneployment and poverty. After our devaluation, the country grew at 9% each next year.
-------------------------------------
Latvia isn't in the same situation as Argentina is... People here still remember devaluation in the beginning of 90s when all the savings from soviet times were lost... devaluation waould be a catastrophy, people would fall into panic and would try to get rid of all lats the have....
Latvia is going to adopt the American practice of allowing homeowners whose property value has fallen below what is owed on their mortgages to walk away from the mortgage and their homes withut having to pay off the remaining debt. It is called non recourse loans in the US. The next step is to change 59% tax on wages and shift taxes onto land values. The idea is to untax people who are productive and instead tax land values that are created by the entire community. This will stop RE/land spec.
Carlos Menem, previously in power Argentina, an industrialist 1989, had promised Argentineans beautiful women and Ferrari cars. he would sell out the countrys assets to foreign hands for ridiculously low prices. borrowed large money from the World Bank and International Monetary Fund.
lenders ruled by the American Treasury. Argentinians trusted President who broke the negotiations international financiers Phoenix economy has risen from the ashes
Hi, im from argentina. This thing that is happening in latvia has already happened here in 2001. And it's exactly the same! the difference is that our currency was pegged with the u.s dollar, and the lat is pegged with the euro. Everything else is the same, GDP falling at 14%, bankrupcy, etc.
Don't delay! devaluate now! the adjustment by deflation will lead to even more uneployment and poverty. After our devaluation, the country grew at 9% each next year.
We Can`t, because if we dismiss the pegg of our currency to the euro, we will not have the chance to join eurozone in the near future, and in the long term that`s not very good, also if we do that, then all the hit that our economy has taken because of this would of been for nothing.
Ok, i don't really know how long is the latvian economy able to stand this, but i think that, since it's a small economy, it will already be benefited from the eurozone due to it's geographical and political closeness.
Besides, remember that crisis like this has costs that are irrecoverable, even after the gdp had bounced.
Btw, it's -22.4% so far.
Anyway, as long as hunger and poverty don't rise, it could be a smarter choice to wait. Now that i think about it, a devaluation has it's costs too.
The sad part that poverty has risen, you can see it on the streets clear as a day, but another bad thing is that because of latvia is bust, we rose taxes, which, in situation when all other big nations are doing otherwise is... and social security in this country is virtually unexsistingif you compare to country`s in the west.
@nahuel89p I'm from neighbouring country Lithuania that has exact same doomed economic situation like in Latvia. I can tell you how this crisis looks from inside: people have no savings, most of them work for minimum wage (which in Lithuania is about 174 euro a month and its almost the same in Latvia. Can you imagine that? People are actually don't believing in their countries anymore and are desperate to emigrate. And food prices now are higher than in Germany (can you believe that?).
@Ausiz As i wrote 2 or 3 pages ago (months ago), basing in the case that took place in my country (Argentina), a devaluation wouldn't be as bad as the state takes control over the economy. That exactly thing happened here. After our devaluation and depression in 2002 (gdp fell 10%), this country started to growth at 8/9% each year, since so. Yes, like China. Poverty went from 50% to nowadays 23%. Unemployment went from 25% to 7%. Car sells went from 96.000 in 2003 to 700.000 nowadays.
@nahuel89p There's problem in our country - currency is tied with euro (it means devaluation is almost not possible, because you must untie your currency first and that's a bit complicated. I believe same situation is also in latvia). Another problem is that politics in our both countries desperately want to have euro and that's why they avoid devaluation at all costs (because it would mean no euro in current decade). Lithuania did not borrowed from IMF, but did same strict measures as Latvia.
@nahuel89p Actually situation now looks almost hopeless..because EU (that is ruled mainly by UK, France and Germany) is not interested in baltic countries whatsoever..our crisis is actually even beneficial for them, because LOTS of skilled people emigrate to UK and Germany - it provides them with skilled and cheap labour. Latvians and lithuanians very quickly learn new language and adapt to new countries and don't plan to go back, because wage difference is just too big- patriotism ends quickly.
@Ausiz Likewise, the IMF wasn't interested in rescuing Argentina in 2001-2002. Likewise, we faced a huge migration, many of whom are back thanks to the huge recovery. Things will be hopeless unless the state take real control of the economy. A change in the mindset is needed. Here we believed in the small state, the neoliberal state, the orthodox economics, until the crisis crashed. Now it has changed, we all agree we need a state taking control of economy, regulating, etc.
@nahuel89p devaluation of litas for example in Lithuania would mean not to enter the euro zone at least for the next ten years. Otrherwise not to borrow from IMF means asking blood from Lithuanian people, through cuts of public costs, like welfare and everywhere is possible, and to let foreign investments run away.
@Ausiz Believe in the state, take control. Get rid of the IMF and the painful and neverending adjustment by deflation. And im not talking about being Cuba. You can think of scandinavian countries.
@Ausiz I believe you. I know well situation in Lithuania. Sorry but your avarage of salary is too pessimistic. Medium is about 1000/1200 litas about 300-350 euros but of course there are people who earn less. Inflation is definitely high. To rent a normal flat for a lituanian often means to waste off all monthly salary and then arrange something to arrive till the end of the month. Latvia and Lithuania are bankrupitng: about Estonia comments must be postponed
This comment has received too many negative votesshow
Fucking Latvians they deserve it. Fucking retarded latvia ppl had to go independant destroyed the greatest nation in the world USSR! they fucking had to go. well SUCK FUCKING BALLS LATIVANS...
Posmejalsja ot dushi.Kazhdij narod zasluzhivaet togo praviteljstva,kotoroe on zasluzhil.Kurbad-sin kobili,Lachplesis-sin medvedici!!!Latishi-potomki zoofilov,chemu tyt udivljatsja?
It could be that you don´t like Latvians, but to laugh on disfortune and desperate situation of the others is a barbasim my friend..Whether you are Russian or Belarussian you have to realize that Latvians are also of the humakind..
truth seeking pundits you really are stupid idiot. By the way, Russia is only country in the world that would not need anything from any country to live comfortable life, they are the only ones with big enough market and enough resources to live in their own world. And i respect that.
truth seeking pundits you really are stupid idiot. By the way, Russia is only country in the world that would not need anything from any country to live comfortable life, they are the only ones with big enough market and enough resources to live in their own world. And i respect that.
truth seeking pundits you really are stupid idiot. By the way, Russia is only country in the world that would not need anything from any country to live comfortable life, they are the only ones with big enough market and enough resources to live in their own world. And i respect that.
Thats what happen when Russia and Iran, Venezuela and all the anti US propaganda cheering the world to hate Americans to bring down the USA economy by raising the price of oil/gas by example Russia bullying the Baltic states who join EU/Nato, Iran announcing building Nukes and Chavez treatening to cut off supplies to raise Oil prices. Serves them right! Where is baboon Chavez, he is soo quite now?? I heard Venezuela and Russia are about to go bust soon!
Just a few months ago when Russia/Venezuela/Iran economy still looking promising and at the height of high Oil prices and the US credit crunch, that idiot Baboon Chavez and that Armphit_deniedjob of Iran thought $150/B price was to cheap and should go as high as $200+/B. Dont this idiots realise that the US is still the engine of the worlds economy, you stop the engine everything stops, then what? Who is going to buy your oil now when US stops buying EU/Asians product?
china has big problems.The commie government forced the peasants off the land to work in city factories.Now there is less work because western consumers cannot afford to shop.Those workers have nowhere to go.
Latvia is in bad situation, but EU, IMF and Latvia'a friends have shown, that we help them, while Russi ahas noone to count on bad days. And bad days have hit Russia harder then most of countries so far.
@BVargas78 Can't deny that, but when noone produces anything, noone needs rawmaterials. Ofcourse Russia comes out very nice. But as long as Russia's economy is based on selling rawmaterials, they will not reach true wealth. These resources will eventually end or are no longer needed. Then Russia has to look other business to do.
@xxxrrrxxxrrr they may not be able to produce the lastest computer hardware or plasma televisions, or luxury cars, but they are able to produce the core things to maintain an infrastructure.
The fall of the soviet union has given russia more access than ever to the technology of the west, so freely available in this era of globalisation. If they really wanted to, they could strike a deal with Taiwan, India and South Korea to improve manufacturing.
USa has ennourmous resources, they, unlike Russia keep those reverves for darker days. There is not much to do with oil, if there is no body living in Russia.
soon this country 'll packed by chicnesses an pakistani , since so many young people still leave this bizarre territory ...
tranzistr 1 year ago
Recession is over, it's time to grow up fast because consumer have lost money and still are worried about their job. Yes SA should handle economic upturn correctly for its economic growth. SA should keep its payroll light. We can also consider the money which we spend on people working on payroll. Some of the companies are looking at server virtualization. The company should keep the alternatives for emergency.
sreyankaful 1 year ago
Don't delay! devaluate now! the adjustment by deflation will lead to even more uneployment and poverty. After our devaluation, the country grew at 9% each next year.
-------------------------------------
Latvia isn't in the same situation as Argentina is... People here still remember devaluation in the beginning of 90s when all the savings from soviet times were lost... devaluation waould be a catastrophy, people would fall into panic and would try to get rid of all lats the have....
lkrnpk 2 years ago
@lkrnpk devaluation means not to enter euro zone for a long time
MrILGRISO 10 months ago
Yes this is sad i am from Latvia btw :(
MrLomix 2 years ago
@Fatboyblitz Where you motherfucker are from?
artofuldis 2 years ago
Latvia is going to adopt the American practice of allowing homeowners whose property value has fallen below what is owed on their mortgages to walk away from the mortgage and their homes withut having to pay off the remaining debt. It is called non recourse loans in the US. The next step is to change 59% tax on wages and shift taxes onto land values. The idea is to untax people who are productive and instead tax land values that are created by the entire community. This will stop RE/land spec.
ourearthhome 2 years ago
Don't listen to our politics, they lie about every thing! They just rob money from us!
And no body from the EU gives a F*** about us! I don't understand, why the hell we entered it...
ComradPaco 2 years ago
Ivars shows you the TITaNIC! :)
Wuahahaaa..
MrBernhards 2 years ago
Latvia will make big budget cuts - but holding the Lat to the Euro is key to a faster recovery.
And if Aljezera wants Latvian business interviews - they shouldn't interview Russians.
FreeAgain2 2 years ago
You stupid fuck. I hope your bolls explode and dig in your brain. Dumbass bitch!!!!!
Pizduravejs 2 years ago
Is Latvia making the Argentinean mistake?
Carlos Menem, previously in power Argentina, an industrialist 1989, had promised Argentineans beautiful women and Ferrari cars. he would sell out the countrys assets to foreign hands for ridiculously low prices. borrowed large money from the World Bank and International Monetary Fund.
lenders ruled by the American Treasury. Argentinians trusted President who broke the negotiations international financiers Phoenix economy has risen from the ashes
PolishAmericanDC 2 years ago
Hi, im from argentina. This thing that is happening in latvia has already happened here in 2001. And it's exactly the same! the difference is that our currency was pegged with the u.s dollar, and the lat is pegged with the euro. Everything else is the same, GDP falling at 14%, bankrupcy, etc.
Don't delay! devaluate now! the adjustment by deflation will lead to even more uneployment and poverty. After our devaluation, the country grew at 9% each next year.
nahuel89p 2 years ago 2
We Can`t, because if we dismiss the pegg of our currency to the euro, we will not have the chance to join eurozone in the near future, and in the long term that`s not very good, also if we do that, then all the hit that our economy has taken because of this would of been for nothing.
SonicYouthXXX 2 years ago
Ok, i don't really know how long is the latvian economy able to stand this, but i think that, since it's a small economy, it will already be benefited from the eurozone due to it's geographical and political closeness.
Besides, remember that crisis like this has costs that are irrecoverable, even after the gdp had bounced.
Btw, it's -22.4% so far.
Anyway, as long as hunger and poverty don't rise, it could be a smarter choice to wait. Now that i think about it, a devaluation has it's costs too.
nahuel89p 2 years ago
The sad part that poverty has risen, you can see it on the streets clear as a day, but another bad thing is that because of latvia is bust, we rose taxes, which, in situation when all other big nations are doing otherwise is... and social security in this country is virtually unexsistingif you compare to country`s in the west.
SonicYouthXXX 2 years ago
@nahuel89p I'm from neighbouring country Lithuania that has exact same doomed economic situation like in Latvia. I can tell you how this crisis looks from inside: people have no savings, most of them work for minimum wage (which in Lithuania is about 174 euro a month and its almost the same in Latvia. Can you imagine that? People are actually don't believing in their countries anymore and are desperate to emigrate. And food prices now are higher than in Germany (can you believe that?).
Ausiz 10 months ago
@Ausiz As i wrote 2 or 3 pages ago (months ago), basing in the case that took place in my country (Argentina), a devaluation wouldn't be as bad as the state takes control over the economy. That exactly thing happened here. After our devaluation and depression in 2002 (gdp fell 10%), this country started to growth at 8/9% each year, since so. Yes, like China. Poverty went from 50% to nowadays 23%. Unemployment went from 25% to 7%. Car sells went from 96.000 in 2003 to 700.000 nowadays.
nahuel89p 10 months ago
@nahuel89p There's problem in our country - currency is tied with euro (it means devaluation is almost not possible, because you must untie your currency first and that's a bit complicated. I believe same situation is also in latvia). Another problem is that politics in our both countries desperately want to have euro and that's why they avoid devaluation at all costs (because it would mean no euro in current decade). Lithuania did not borrowed from IMF, but did same strict measures as Latvia.
Ausiz 10 months ago
@nahuel89p Actually situation now looks almost hopeless..because EU (that is ruled mainly by UK, France and Germany) is not interested in baltic countries whatsoever..our crisis is actually even beneficial for them, because LOTS of skilled people emigrate to UK and Germany - it provides them with skilled and cheap labour. Latvians and lithuanians very quickly learn new language and adapt to new countries and don't plan to go back, because wage difference is just too big- patriotism ends quickly.
Ausiz 10 months ago
@Ausiz Likewise, the IMF wasn't interested in rescuing Argentina in 2001-2002. Likewise, we faced a huge migration, many of whom are back thanks to the huge recovery. Things will be hopeless unless the state take real control of the economy. A change in the mindset is needed. Here we believed in the small state, the neoliberal state, the orthodox economics, until the crisis crashed. Now it has changed, we all agree we need a state taking control of economy, regulating, etc.
nahuel89p 10 months ago
@nahuel89p Nice to hear that your country recovered. That means that there's hope for every country :)
Ausiz 10 months ago
@nahuel89p It seems you need a nationalist political option, economical sovereignity, etc.
nahuel89p 10 months ago
@nahuel89p devaluation of litas for example in Lithuania would mean not to enter the euro zone at least for the next ten years. Otrherwise not to borrow from IMF means asking blood from Lithuanian people, through cuts of public costs, like welfare and everywhere is possible, and to let foreign investments run away.
MrILGRISO 10 months ago
@Ausiz Believe in the state, take control. Get rid of the IMF and the painful and neverending adjustment by deflation. And im not talking about being Cuba. You can think of scandinavian countries.
nahuel89p 10 months ago
@Ausiz I believe you. I know well situation in Lithuania. Sorry but your avarage of salary is too pessimistic. Medium is about 1000/1200 litas about 300-350 euros but of course there are people who earn less. Inflation is definitely high. To rent a normal flat for a lituanian often means to waste off all monthly salary and then arrange something to arrive till the end of the month. Latvia and Lithuania are bankrupitng: about Estonia comments must be postponed
MrILGRISO 10 months ago
okay yeah but Latvia is not located in bloody eastern europe -. - get the facts right
BertilUlfsson 2 years ago
they droped , 40% in value , that is called , FREE MARKET ,,, Got it ,...
aviomaster 2 years ago
This comment has received too many negative votes show
Fucking Latvians they deserve it. Fucking retarded latvia ppl had to go independant destroyed the greatest nation in the world USSR! they fucking had to go. well SUCK FUCKING BALLS LATIVANS...
WeThePlayers 2 years ago
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yuna219 2 years ago
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1. copy and paste to 8 other videos
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Aviv36 2 years ago
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Posmejalsja ot dushi.Kazhdij narod zasluzhivaet togo praviteljstva,kotoroe on zasluzhil.Kurbad-sin kobili,Lachplesis-sin medvedici!!!Latishi-potomki zoofilov,chemu tyt udivljatsja?
juratego 3 years ago
It could be that you don´t like Latvians, but to laugh on disfortune and desperate situation of the others is a barbasim my friend..Whether you are Russian or Belarussian you have to realize that Latvians are also of the humakind..
ibnfahlan 3 years ago 11
barbarism
ibnfahlan 3 years ago
mhm intelekt u tebja visij slav atmarozinij
Hadesqq 2 years ago
Ты - долбоёб. Хоть раз был в Латвии?
lbornov2 2 years ago
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truth seeking pundits you really are stupid idiot. By the way, Russia is only country in the world that would not need anything from any country to live comfortable life, they are the only ones with big enough market and enough resources to live in their own world. And i respect that.
bratuskins 3 years ago
truth seeking pundits you really are stupid idiot. By the way, Russia is only country in the world that would not need anything from any country to live comfortable life, they are the only ones with big enough market and enough resources to live in their own world. And i respect that.
bratuskins 3 years ago
truth seeking pundits you really are stupid idiot. By the way, Russia is only country in the world that would not need anything from any country to live comfortable life, they are the only ones with big enough market and enough resources to live in their own world. And i respect that.
bratuskins 3 years ago
@bratuskins you are right only if we consider Russian big cities but in the russian countryside or villages things are very different
MrILGRISO 10 months ago
Thats what happen when Russia and Iran, Venezuela and all the anti US propaganda cheering the world to hate Americans to bring down the USA economy by raising the price of oil/gas by example Russia bullying the Baltic states who join EU/Nato, Iran announcing building Nukes and Chavez treatening to cut off supplies to raise Oil prices. Serves them right! Where is baboon Chavez, he is soo quite now?? I heard Venezuela and Russia are about to go bust soon!
TruthSeekingPundits 3 years ago 2
Just a few months ago when Russia/Venezuela/Iran economy still looking promising and at the height of high Oil prices and the US credit crunch, that idiot Baboon Chavez and that Armphit_deniedjob of Iran thought $150/B price was to cheap and should go as high as $200+/B. Dont this idiots realise that the US is still the engine of the worlds economy, you stop the engine everything stops, then what? Who is going to buy your oil now when US stops buying EU/Asians product?
TruthSeekingPundits 3 years ago
china has big problems.The commie government forced the peasants off the land to work in city factories.Now there is less work because western consumers cannot afford to shop.Those workers have nowhere to go.
rw5791 3 years ago
russia will not help latvia because they joined nato.
KhmerD0g 3 years ago 2
wrong, even without nato russia wouldnt help. why should it? not that latvia is facing a financial catastrophe
sujajajjaakakajjs 3 years ago
latvia will face bankruptcy. it's a matter of time before they will become like zimbawe or iceland.
KhmerD0g 3 years ago
lol, i think they wouldnt mind having the same purchasing power as people in iceland.
sujajajjaakakajjs 3 years ago
Latvia is in bad situation, but EU, IMF and Latvia'a friends have shown, that we help them, while Russi ahas noone to count on bad days. And bad days have hit Russia harder then most of countries so far.
xxxrrrxxxrrr 3 years ago 5
@xxxrrrxxxrrr Where are you getting your info? Russia has weather the crisis better than almost all of Europe.
thegreendestiny 1 year ago
@thegreendestiny he's basing his assessment on how things looked a year ago
BVargas78 1 year ago
@xxxrrrxxxrrr but russia has huge assets in raw materials and sources of energy that western europe does not have.
BVargas78 1 year ago
@BVargas78 Can't deny that, but when noone produces anything, noone needs rawmaterials. Ofcourse Russia comes out very nice. But as long as Russia's economy is based on selling rawmaterials, they will not reach true wealth. These resources will eventually end or are no longer needed. Then Russia has to look other business to do.
xxxrrrxxxrrr 1 year ago
@xxxrrrxxxrrr they may not be able to produce the lastest computer hardware or plasma televisions, or luxury cars, but they are able to produce the core things to maintain an infrastructure.
The fall of the soviet union has given russia more access than ever to the technology of the west, so freely available in this era of globalisation. If they really wanted to, they could strike a deal with Taiwan, India and South Korea to improve manufacturing.
BVargas78 1 year ago
@xxxrrrxxxrrr
And who helps the forests of Latvia?
luxcretia2 1 year ago
@luxcretia2 Latvia has the most important heritage of natural and wild forests all over Europe. Im afraid they're going to sell everything
MrILGRISO 10 months ago
russian economy is just an illusion though.lol
no industry...oil price is down
population is decreasin...near future
china will own russia
Kfighterilkook 3 years ago
but they have a lot of gas, mineral and oil. they will survive even prices are down.
U.S. will die a slow death because of too much debt.
KhmerD0g 3 years ago 2
USa has ennourmous resources, they, unlike Russia keep those reverves for darker days. There is not much to do with oil, if there is no body living in Russia.
xxxrrrxxxrrr 3 years ago
I love the big guy who seems to be comparing Latvia to a slice of bacon in between Europe and Russia.
captainLoknar 3 years ago 2
Hooly shit man.. thats an Latvia Ministry President.. He have more Power than president.. and u think thats all hee need to say in this case??
susundrupulis 3 years ago